10% tax on dividend income suspended for three years in Oman

The Capital Market Authority (CMA) said on Wednesday it has suspended a ten per cent tax on dividend income for three years as of May 6 to boost foreign investments.

The three years could be extended, said H E Abdullah bin Salim al Salmi, Executive President of CMA. “The decision is aimed at offering incentives to attract more investments.”

He added that the changes were made after consent from His Majesty Sultan Qaboos bin Said. “This reinforces His Majesty the Sultan’s desire to have a suitable business environment to attract investments.”